publication date: Jan. 27, 2017
MD Anderson posts $169 million loss for first four months of fiscal 2017
By Paul Goldberg
MD Anderson Cancer Center lost $58 million during the month of December 2016.
This latest operating loss brings total losses $169.4 million for the first four months of fiscal 2017, which began on Sept. 1, 2016.
Since last fall, when operating losses first came into public view, MD Anderson officials consistently said they expected to solve the problem by the end of the fiscal year, predicting that the institution will produce a positive margin for the fiscal year (The Cancer Letter, Dec. 9, Dec. 2, Nov. 4, 2016).
Asked whether this prediction still holds today, after another quarter in the red, MD Anderson officials said they “anticipate generating a positive monthly operating margin by the end of this fiscal year”—a potentially less ambitious projection.
The cancer center recently laid off about 900 employees, less than 5 percent of its workforce of over 20,000 (The Cancer Letter, Jan. 6). However, the results of these reductions will not be seen until later this year.
“We won’t see the impact of the recent reductions on our finances until April or May,” officials said in a statement made available through … Continue reading MD Anderson posts $169 million loss for first four months of fiscal 2017
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